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Tag: Decoy Effect

  • Learn how Williams Sonoma revived Bread Machine sales

    Learn how Williams Sonoma revived Bread Machine sales

    How did Decoy effect help Williams Sonoma revive Bread Machine Sales

    Dan Ariely mentions at length about the decoy effect to influence human irrationality, in his book Predictably Irrational. One practical example of this is how Williams Sonoma used decoy effect to revive sales of its bread bakery machine.

    Read this insight to understand how the sales of its bread bakery machine was revived by exploiting a quirk of the brain.

    Williams Sonoma Bread Machine Sales

    Though we humans take a lot of pride in our rational abilities, many a times we behave irrationally. The decoy effect truly exploits the irrationality of our brain.

    Have you read Predictably Irrational?

    Dan Ariely’s book exploits the irrational aspects of the human brain. To read another such insight visit this link:

    https://viewpointsunplugged.com/our-brains-reaction-to-integrity/

    For all insights from this book please visit:

    https://viewpointsunplugged.com/?s=predictably+irrational

    To know more about the author visit this link:

    https://en.wikipedia.org/wiki/Dan_Ariely

  • Some key takeaways from Predictably Irrational

    Dan Ariely’s Predictably Irrational is a true masterclass and shown below are some of the key takeaways from Predictably Irrational.

    1. Decoy effect – Introducing a –VE of something , as a decoy , can influence choice/human behavior  when that something is pitched against some other option.
    2. Anchor effect – First impression is always the best impression , and can influence all our decisions relative to that impression.
    3. Gravitational pull of FREE – We agree with it or not , all humans have a natural inclination towards something offered for FREE even though that product/service being offered is not something that we desire.